Tex. Ins. Code § 1576.009

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 1576.009 - Contract Award; Considerations

(a) In awarding a contract under this chapter, the trustee is not required to select the lowest bid and may consider any relevant criteria, including a bidder's:

(1) ability to service contracts;

(2) past experience; and

(3) financial stability.

(b) If the trustee awards a contract to a bidder whose bid deviates from that advertised, the trustee shall record the deviation and fully justify the reason for the deviation in the minutes of the next meeting of the trustee.

Tex. Ins. Code § 1576.009

Added by Acts 2005, 79th Leg., Ch. 1359, Sec. 47, eff. 9/1/2005.